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Global impact of $50 oil price fall

Global impact of $50 oil price fall Business Insider


The oil crash has impacted oil importers and exporters differently.

The 50% plunge in oil prices will be a roughly $1.7 trillion gain for consumers in oil importing nations, according to BlackRock. But exporters will suffer, especially countries that are counting on revenues from higher oil prices to balance their budgets.

"Winners in this climate should be global consumers, oil importers such as India and Japan, and the transport and retailing industries," BlackRock's Jean Boivin wrote in a research report. "Oil-exporting nations and companies with limited cash buffers and poor access to debt markets (think Venezuela or over-leveraged U.S. shale plays) look to be the biggest losers."

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Also, more fossil fuel emissions more quickly. That can't be good for climate change. 

Meanwhile: USA, Europe, Brazil, India, China benefit. 

Russia, Canada, Saudi Arabia, ISIL, and Iran suffer.